Functions of Payment Bank - General Economics & Indian Economy

Q.  Which of the following statements related to Payment Bank are true?

1. It only receive deposits and provide remittances to migrant laborors.
2. The minimum capital requirement is ?100 crore.
3. For the first five years, the stake of the promoter should be 40% minimum.
4. Foreign share holding will not be allowed in these banks
5. India Post will use its large network to run a payments bank.
- Published on 11 Jul 15

a. 1.2.3,5
b. 3,4,5
c. 2,4,5
d. 2,3,4,5
e. All

ANSWER: 1.2.3,5
 
Foreign share holding will allowed in these banks as per the rules for FDI in private banks in India.

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